TECH UPDATE

Technology

Stakeholders urge FG to fast-track blockchain adoption
Stakeholders urge FG to fast-track blockchain adoption

Stakeholders in the blockchain and fintech ecosystem have called on the Federal Government to implement policies that will foster the widespread integration of blockchain in the country. They stated this during the National Information Technology Development Agency and Stakeholders in Blockchain Technology Association of Nigeria Stakeholders’ Policy Dialogue held in Lagos recently. They stressed the necessity of establishing a forward-thinking regulatory framework, aimed at accelerating the infusion of blockchain technology into diverse sectors of the economy. This move follows the signing of the National Blockchain Policy by former President Muhammadu Buhari

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Inflation reduces Jumia’s customers by one million, says report
Inflation reduces Jumia’s customers by one million, says report

Jumia has disclosed that its customer base decreased by 28.1 per cent as inflation surged in its major operating markets including Nigeria, Ghana, and Egypt. It said this in its 2023 financial results for the second quarter. The company said its active consumers declined by one million year-on-year to 2.4 million in Q2, 2023 from 3.4 million recorded in the same period last year. It said its gross merchandise value, which was the value of goods sold on the platform, also declined by 25.1 per cent from $271.1m in Q2, 2022 to $202.3m in Q2, 2023. According to its recently released ‘2022 Subscriber/Network Data Annual Report’, operators rolled out 12,882 more base stations in 2022, to increase the total number to 127,294 from 114,412 in 2021 and boost the reach of telecom services, such as calls, Internet, and more. The increase in access to telecom services was reflected in increased broadband penetration to 47.36 per cent as of December 2022 from 40.88 per cent in the prior year and increased active subscriptions from 195.46 million subscriptions in 2021 to 222.57 million.

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Infrastructure deficit hindering digital jobs creation, says ATCON
Infrastructure deficit hindering digital jobs creation, says ATCON

Infrastructural deficit in the telecommunication sector is hampering the creation of digital jobs, the Association of Telecommunications Companies of Nigeria has stated. It noted that those deficits, if unresolved will not allow success in the application layers where most digital jobs reside. The association said this while welcoming the appointment of the new Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijani. While listing the challenges facing the industry, the association stated that there was a need to develop, secure and enable further expansion of communication infrastructure in the country.

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